Page:United States Statutes at Large Volume 80 Part 1.djvu/303

 80 STAT. ]

PUBLIC LAW 89-494-JULY 5, 1966

267

adjusted to the nearest one-tenth of 1 per centum, determined by the Board of Commissioners of the District of Columbia on the basis of the annual average price index for calendar year 1962 and the price index for the month of July 1965 plus (2) 61/^ per centum if the commencing date (or in the case of the survivor of a deceased annuitant the commencing date of the annuity of the retired employee) occurred on or before October 1, 1956, or li/^ per centum if the commencing date (or in the case of the survivor of a deceased annuitant the commencing date of the annuity of the retired employee) occurred after October 1, 1956. The month used in determining the increase based on the per centum rise in the price index under this subsection shall be the base month for determining the per centum change in the price index until the next succeeding increase occurs. "(b) Each month after the first increase under this section, the Board of Commissioners of the District of Columbia shall determine the per centum change in the price index. Effective the first day of the third month which begins after the price index shall have equaled a rise of at least 3 per centum for three consecutive months over the price index for the base month, each annuity payable from the fund which has a commencing date not later than such effective date shall be increased by the per centum rise in the price index (calculated on the highest level of the price index during the three consecutive months) adjusted to the nearest one-tenth of 1 per centum. "(c) Eligibility for an annuity increase under this section shall be governed by the commencing date of each annuity payable from the fund as of the effective date of an increase, except as follows: "(1) Effective from its commencing date, an annuity payable from the fund to an annuitant's survivor (other than a child entitled under section 9(b)(3)), which annuity commences the day after the annul- ^^^*%*'^^^ D.C. tant's death and after the effective date of the first increase under this 729. Code 31section, shall be increased by the total per centum increase the annuitant was receiving under this section at death. " (2) For purposes of computing an annuity which commences after the effective date of the first increase under this section to a child under section 9(b)(3), the items $600, $720, $1,800, and $2,160 appearing in section 9(b)(3) shall be increased by the total per centum increase allowed and in force under this section for employee annuities which conimenced after October 1, 1956, and, in case of a deceased annuitant, the items 40 per centum and 50 per centum appearing in section 9(b)(3) shall be increased by the total per centum increase allowed and in force under this section to the annuitant at death. " (d) No increase in annuity provided by this section shall be computed on any additional annuity purchased at retirement by voluntary contributions. "(e) The monthly installment of annuity after adjustment under this section shall be fixed at the nearest dollar, except that such installment shall after adjustment reflect an increase of at least $1. 'Price index." " (f) For purposes of this section, the term 'price index' shall mean the Consumer Price Index (all items—United States city average) published monthly by the Bureau of Labor Statistics. The term 'base month' shall mean the month for which the price index showed a per centum rise forming the basis for a cost-of-living annuity increase." SEC. 2. Section 2 of the Act entitled "An Act for the retirement of public school teachers in the District of Columbia", approved August 7, 1946 (D.C. Code, sec. 31-722), is amended by inserting immediately 60 Stat. 876. after "this Act" in the third sentence the following: ", and for payment of administrative expenses incurred by the Board of Commissioners of the District of Columbia in placing in effect each annuity adjustment granted under section 21 of this Act". SEC. 3. This Act shall take effect December 1, 1965. Effective date Approved July 5, 1966.

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